Kenneth John Byrne of Garden City, New York, a stockbroker registered with Janney Montgomery Scott LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Byrne failed to testify during the period that FINRA investigated the stockbroker for possible unsuitable investment recommendations. Acceptance, Waiver, and Consent No. 2022074617401 (January 31, 2023).
On July 21, 2021, Janney submitted a Uniform Termination Notice for Securities Industry Registration (Form U5), which stated that Byrne had retired in June 2021. FINRA’s investigation originated from a firm examination conducted on Janney Montgomery Scott.
During an investigation into the suitability of trades recommended by Byrne, FINRA sent him a request for testimony on January 19, 2023. Byrne acknowledged receiving FINRA’s request during a phone call on January 20, 2023. However, he declared his refusal to appear for testimony at any time. By declining to participate in the requested testimony as required by the regulator, Byrne violated FINRA Rules 8210 and 2010.
Byrne was associated with Janney Montgomery Scott LLC in Garden City, New York, as a stockbroker from January 10, 2003, to July 21, 2021.